U.S. Dollar Climbs on Oil Rally, Yen Holds Gains Amid Safe‑Haven Demand

Currencies · samer saeed · October 23, 2026

U.S. Dollar Climbs on Oil Rally, Yen Holds Gains Amid Safe‑Haven Demand

The U.S. dollar edged higher on Thursday, driven by a 0.82% jump in West Texas Intermediate (WTI) crude and a 0.41% rise in Brent. The surge in energy prices helped lift the dollar index, which closed up roughly 0.2%.

Gold slipped 0.18% to $4,017.27 an ounce, while silver fell 1.84% to $53.99. Copper advanced 0.87% to $6.45 an ounce, and aluminium rose 0.31% to $3,018.70.

Natural gas prices fell 2.65% to $2.722 a million British thermal units.

Meanwhile, the Japanese yen, a long‑standing safe‑haven currency, continued to gain on risk‑off sentiment, holding its gains as investors sought shelter from market volatility.

Overall, the combination of rising oil prices and persistent safe‑haven demand for the yen kept the currency markets in a tight range for the day.

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